The now-deleted page on Gate.io had outlined plans for PMP FUN to offer 150 billion tokens at a price of $0.004 each, targeting a $600 million raise. This sale was set to account for 15% of the total supply of 1 trillion tokens, implying a fully diluted valuation (FDV) of $4 billion for the project. The offering was initially scheduled for July 12, 2025, and was intended to be a public sale. However, the sudden disappearance of the page without official explanation has left investors and observers with more questions than answers.
The rapid removal of the token sale page, which now displays a 404 error, has led to various theories within the community, ranging from potential hacks or incorrect details to regulatory concerns. While Gate.io's support team reportedly issued a vague statement about removing the pre-market OTC following negotiations, it did not provide clarity on the future of the token sale or a confirmed reopening date. This lack of transparency has intensified speculation and underscored the inherent risks associated with emerging crypto projects and their fundraising endeavors.
PMP FUN, known for facilitating the creation of millions of new tokens and generating substantial revenue on the Solana blockchain, had seen its volumes plummet since the memecoin frenzy of early 2025. The platform's co-founder had even previously advised against expecting a native token. The current situation with the pulled sale and the absence of official statements from either party emphasizes the need for caution and verified information in the volatile memecoin ecosystem.